On the books of investment funds, ETP and ETF, Bitcoin is valued at $43.2 billion — 5.75% of the market capitalisation of digital gold. A further 1% of the supply (more than $6.5 billion) is controlled by 19 public companies. The Financial News reports, citing Nickel Digital Asset Management.
The combined market value of the mentioned companies exceeds $1 trillion. Thirteen of them are located in North America, three in Europe, the rest in Turkey, Hong Kong and Australia. Their total returns on investments amounted to $2.2 billion.
According to Nickel Digital, another 17 public companies have acquired digital gold, but at present they have not disclosed full information about their portfolios.
In the case of investment funds and exchange-traded products, these structures are also predominantly located in North America — the region accounts for 65% of the assets held.
According to Nickel Digital CEO Anatoly Krachilov, the COVID-19 crisis, in combination with expansionary monetary policy by central banks, has heightened the risks of fiat currencies devaluing.
\”This, in combination with the increasingly inflationary policy of the Fed and the ever-growing pile of bonds with negative yields totaling $18 trillion, has prompted many corporations to consider investing in alternative assets,\” he said.
The head of Nickel Digital says that including Bitcoin in the portfolios of leading asset managers is a \”very important validation of the asset’s emerging role as an inflation-hedging instrument\”.
\”An increase in allocations from large institutional investors and corporate players, as expected, will over time reduce the volatility of the first cryptocurrency. All thanks to a longer-term and more stable type of capital attracted by these investors,\” added Krachilov.
Bitcoin Treasuries data diverge from Nickel Digital’s. The site indicates that funds and exchange-traded products hold 815,887 BTC worth about $32.46 billion — 3.885% of bitcoin’s market capitalisation.
Public companies own 200,100 BTC worth about $7.96 billion (0.953% of market capitalisation). Private entities such as Block.one and Tezos Foundation hold 155,846 BTC worth about $6.2 billion (0.742% of supply).
Another 259,870 BTC (1.237% of market capitalisation) worth about $10.33 billion are held by Ukrainian government officials and the governments of Bulgaria.
On June 15, the analytics software provider MicroStrategy announced an additional share issue of up to $1 billion. The funds will be used to buy bitcoin.
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